Qsemble Capital Management LP Boosts Holdings in CRH plc (NYSE:CRH)

Qsemble Capital Management LP grew its position in shares of CRH plc (NYSE:CRH) by 46.4% in the third quarter, HoldingsChannel reports. The firm owned 36,552 shares of the construction company’s stock after buying an additional 11,590 shares during the quarter. Qsemble Capital Management LP’s holdings in CRH were worth $3,390,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CRH. Dynamic Technology Lab Private Ltd purchased a new position in shares of CRH during the third quarter worth approximately $501,000. Daiwa Securities Group Inc. lifted its position in shares of CRH by 17.0% during the third quarter. Daiwa Securities Group Inc. now owns 72,911 shares of the construction company’s stock valued at $6,762,000 after buying an additional 10,600 shares during the last quarter. Larson Financial Group LLC lifted its position in CRH by 1,814.9% during the third quarter. Larson Financial Group LLC now owns 1,666 shares of the construction company’s stock valued at $155,000 after acquiring an additional 1,579 shares during the last quarter. Swedbank AB lifted its holdings in shares of CRH by 68.7% during the 3rd quarter. Swedbank AB now owns 170,442 shares of the construction company’s stock valued at $15,807,000 after purchasing an additional 69,418 shares during the last quarter. Finally, Pitcairn Co. raised its stake in CRH by 116.8% in the third quarter. Pitcairn Co. now owns 5,963 shares of the construction company’s stock valued at $553,000 after buying an additional 3,212 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Truist Financial boosted their target price on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. DA Davidson raised their price target on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CRH currently has an average rating of “Buy” and a consensus price target of $106.42.

CRH Price Performance

Shares of CRH stock opened at $102.86 on Tuesday. The stock has a market capitalization of $69.86 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.28 and a beta of 1.29. CRH plc has a 12 month low of $61.51 and a 12 month high of $103.64. The business has a 50-day moving average of $94.49 and a 200 day moving average of $85.83.

CRH Cuts Dividend

The company also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be paid a dividend of $0.262 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is currently 37.20%.

CRH Company Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.